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Xstrata Says Copper Output Unaffected by Australia Tax

Industry News 03:07:38PM May 10, 2010 Source:SMM

SYDNEY, May 10 (Reuters) - Mining group Xstrata plc (XTA.L) said on Monday copper production in Australia will not be affected by its decision to suspend copper exploration while it assesses a new mining tax.
 
"On immediate production, there will be no impact," an Xstrata spokeswoman said. "It's really about future additional resources."

Xstrata was planning to spend A$30 million over the next three years exploring for more copper in the north of Australia's Queensland state, but suspended the programme earlier on while it seeks clarification of a proposed 40 percent tax on mining profits.
 

Xstrata Says Copper Output Unaffected by Australia Tax

Industry News 03:07:38PM May 10, 2010 Source:SMM

SYDNEY, May 10 (Reuters) - Mining group Xstrata plc (XTA.L) said on Monday copper production in Australia will not be affected by its decision to suspend copper exploration while it assesses a new mining tax.
 
"On immediate production, there will be no impact," an Xstrata spokeswoman said. "It's really about future additional resources."

Xstrata was planning to spend A$30 million over the next three years exploring for more copper in the north of Australia's Queensland state, but suspended the programme earlier on while it seeks clarification of a proposed 40 percent tax on mining profits.